U.S. Employers Keep Hiring Briskly Even In Face Of Rate Hikes

The US added 261,000 jobs last month, surpassing the expected 200,000, but the unemployment rate rose to 3.7%. Despite this, Wall Street reacted positively, with the Dow increasing by 450 points. The job gains were mainly in healthcare, professional services, and manufacturing. This report is significant as it precedes the midterm elections, where inflation is a key issue. The Federal Reserve recently raised interest rates, and Fed Chair Jerome Powell indicated that inflation might not decrease until the labor market weakens. The Fed is expected to raise rates again in December, but the duration of rate hikes remains uncertain.

What was the number of jobs added to the US economy last month?

What was the unemployment rate reported in the jobs report?

Which sectors experienced the biggest job gains according to the report?

What economic issue is highlighted as important among voters ahead of the midterm elections?

How might the jobs report influence the Federal Reserve's decisions on interest rates?